Fertilizers Break Lower

Posted on 06/24/2019 3:57 PM

 

  • Fertilizer prices were lower on the week with only DAP posting price firmness.
  • Our Nutrient Composite Index (NCI) softened 3.10 points to 631.33.

NitrogenNitrogen indices chart

  • Nitrogen prices were lower across the board on the week with urea leading to the downside. South Dakota, Iowa and North Dakota all posted sharp declines in urea pricing on the week.
  • Anhydrous ammonia was $1.72 lower on the week with Nebraska and North Dakota leading declines as South Dakota firmed sharply.
  • UAN28% was lower with South Dakota and Missouri leading the downturn.
  • UAN32% fell slightly with Iowa and Missouri leading declines as Kansas and Minnesota each firmed a few dimes.

Phosphate

  • Phosphate prices were mixed with MAP of $4.54 on the week. North Dakota and Wisconsin fell sharply on the week.p and k indices chart
  • DAP was 7 cents higher by the short ton with Indiana and Missouri leading gains.
  • According to MosaicCo., wholesale phosphates were sideways to lower in the week ended June 21.

Potash

  • Potash prices fell slightly on the week.
  • Nebraska and Wisconsin led declines as Indiana and Iowa posted slight gains.
  • According to MosaicCo., wholesale potash lower on the week.

Corn Futures

  • December 2019 corn futures closed Friday June 21 at $4.53 putting expected new-crop revenue (eNCR) at $753.28 per acre -- lower $17.60 per acre on the week.
  • With our Nutrient Composite Index (NCI) at 631.33 this week, the eNCR/NCI spread widened 3.10 points and now stands at -139.55.
Fertilizer
6/10/19
6/17/19
Change
Current Week
Fertilizer
Anhydrous
$614.26
$611.70
-55 cents
$609.99
Anhydrous
DAP
$515.64
$508.87
-$1.56
$508.94
DAP
MAP
$531.97
$530.18
-$1.63
$525.64
MAP
Potash
$393.11
$393.55
-84 cents
$393.43
Potash
UAN28
$283.46
$282.95
+$2.29
$281.75
UAN28
UAN32
$316.67
$318.00
-1 cent
$317.23
UAN32
Urea
$438.08
$438.12
+$2.83
$431.63
Urea
Composite
635.96
634.43
-3.10
631.33
Composite

nutrient composite index chart

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